Bitcoin‘s (BTC) could rise by 900% if two important events occur in the cryptocurrency field, according to Michael Saylor, the founder and chairman of MicroStrategy.
During a program on CNBC, Michael Saylor stated that if institutional investors take on a larger role in Bitcoin, the cryptocurrency market will mature and filter out malicious individuals and more speculative cryptocurrency projects. Popular figure Michael Saylor suggested that a significant rally could be on the horizon for Bitcoin if these mentioned topics come to fruition. In his statements, the expert said:
I believe the initial responsibilities were crypto cowboys, crypto tokens, unregistered securities, and unreliable crypto custodians. We need to transition to adult supervision for the industry to move to the next stage. We will need major banks to be crypto custodians. We will need Wall Street to take on a role.
Features that Set Bitcoin Apart from its Competitors
The well-known Bitcoin bull in the markets believes that the participation of traditional finance (TradFi) in BTC will cause the best-performing cryptocurrency to rise by emphasizing BTC’s significance over numerous altcoins and predicts that it will eventually lose its appeal. The globally renowned figure highlighted the following on the subject:
You know the 100,000 cryptocurrencies that people manipulate, the YOLO money, we need to rationalize them to Bitcoin. Bitcoin is a non-issuer asset. It’s a product in space, universally recognized protocol. So, when the banks on Wall Street and responsible custodians manage Bitcoin and the industry looks away from all the shiny little tokens that distract and destroy shareholder value, I think the industry moves to the next level, and we go 10 times further from here.
At the time of writing, Bitcoin, the leading cryptocurrency according to data from the website 21milyon.com, is trading at $34,783.
